Manan Joshi, Founder, Sarvam Properties
"As India approaches the Union Budget 2026-27, Sarvam Properties hopes the Finance Minister will deliver a forward looking Budget that strengthens homeownership and boosts real estate investment. With affordability still a key challenge for homebuyers, we urge measures that enhance tax incentives on home loans and related deductions, helping more middle income families realise the dream of owning a home. Tax relief geared toward home loan interest, rationalisation of GST for construction inputs, and expanded benefits for affordable housing will be vital to stimulate demand and revive stalled projects creating deeper market confidence and unlocking growth across urban and emerging regions. We also support the broader push for economic resilience and future competitiveness, where policies that encourage infrastructure development, improve ease of project approvals, and advance digital and construction technology adoption will strengthen both supply and investment flows across the real estate sector. A Budget that combines tax relief, affordability measures, and growth incentives will not only benefit homebuyers but also sustain the sector as a dynamic engine of employment and economic activity."
Navin Dhanuka, Director, ArisUnitern RE Solutions
"As India heads into Budget 2026–27, the real estate sector will benefit most from a stable, forward-looking policy framework that prioritises infrastructure development, ease of execution, and regulatory clarity. Measures such as rationalisation of taxes on construction inputs, faster approvals, and improved access to housing finance can meaningfully strengthen supply-side confidence. Coupled with income-tax reforms that enhance household purchasing power, Budget 2026 can unlock housing demand, support planned urban expansion, and drive sustainable, long-term growth"
Bhavesh Kothari, Founder & CEO, Property First
"Budget 2026 presents a timely opportunity to strengthen India's housing led growth story by empowering end consumers and improving capital flow into real assets. We expect continued policy focus on affordable and mid income housing through enhanced tax benefits on home loans, rationalisation of long term capital gains, and easier access to institutional credit for developers. Clearer financing norms, infrastructure led incentives, and faster approval mechanisms for projects will unlock demand in emerging growth corridors, especially among first time buyers and self build homeowners. A sustained push on infrastructure spending, digitisation of land records, and GST rationalisation for construction inputs will further improve transparency, reduce costs, and accelerate project completion timelines. A stable, growth oriented Budget can reinforce real estate's role as a long term wealth creator while aligning housing demand with India's evolving aspirations."
Mr Shobit Rai, Co-Founder & MD, Prozeal Green Energy Limited
“India has added renewable capacity at record speed, yet less than a tenth of our power system today is supported by large-scale storage. As renewable penetration rises, the budget must acknowledge that energy transition is no longer about generation alone, it is about reliability. Prioritising grid-scale storage, green hydrogen, and flexible infrastructure will determine whether clean power can replace fossil fuels at scale. Targeted incentives for domestic manufacturing of electrolyzers, batteries, and power electronics can significantly reduce import dependence. A budget that aligns power, industry, and infrastructure will define India’s ability to lead, not just participate, in the global energy transition.”
Mr Manan Thakkar, Co-Founder & Managing Director, Prozeal Green Energy Limited
India’s renewable energy journey has achieved remarkable success in capacity addition, with clean energy now comprising over 40% of installed power capacity. However, Budget 2026 must address a fundamental challenge: generation capacity alone cannot deliver a complete energy transition.
Despite impressive capacity growth, grid-scale energy storage infrastructure remains critically inadequate for a high-renewables system. Without robust storage, grid flexibility, and firm green power supply, renewable energy cannot effectively displace fossil fuels at scale. This gap represents the most significant barrier to India’s decarbonization ambitions.
While India’s solar and wind tariffs rank among the most competitive globally, new challenges are emerging. Curtailment, grid congestion, and power variability are imposing hidden costs that undermine the economic advantages of renewable energy. Strategic budgetary support for battery energy storage systems (BESS), pumped hydro storage, and green hydrogen infrastructure can transform intermittent renewable power into dispatchable, industrial-grade energy—making clean power a reliable baseload alternative.
India currently imports a substantial proportion of critical components—electrolyzers, battery cells, and power electronics—that will form the backbone of future energy infrastructure. Targeted production-linked incentives and sustained policy certainty can catalyse domestic manufacturing ecosystems, reduce foreign exchange vulnerabilities, and generate high-skilled employment opportunities across the value chain.
From the perspective of engineering, procurement, and construction (EPC) firms and independent power producers (IPPs), three factors will determine execution velocity:
· Expedited clearances to reduce project gestation periods
· Predictable transmission planning aligned with renewable energy deployment roadmaps
· Access to patient, long-tenor capital that matches infrastructure investment timelines
The global energy transition demands substantial capital deployment, but it also creates unprecedented value. A budget that integrates power generation, energy storage, industrial decarbonization, and export competitiveness will achieve dual objectives: meeting India’s climate commitments while establishing the nation as a trusted global supplier of clean electrons and green molecules.
Paul Alukkas, Managing Director, Jos Alukkas-
As the Union Budget approaches amid a challenging global macro-economic environment, currency volatility and higher working capital requirements.
Gold prices have hit an all-time high driven by global safe-haven demand and a weaker rupee, while the government remains keen to monetize India’s large idle gold stock to curb imports.
The industry bodies are seeking clear and well-defined regulation of digital gold that will also enhance consumer protection and support greater formalisation of the market. The demand for natural diamonds continues to grow steadily, driven by their rarity. We welcome the BIS move to clearly differentiate natural diamonds from lab-grown diamonds, as it brings much-needed clarity and protects consumer interest. Consistent and forward-looking policies will help strengthen the sector and reinforce India’s position in the global gems and jewellery value chain.
Sridhar NP, Managing Director & CEO of Titan Engineering and Automation Limited (TEAL):
“As India accelerates its push into advanced manufacturing across semiconductors, electronics, solar and battery sectors, it is equally critical to strengthen the domestic automation and capital goods ecosystem that enables this transformation. At TEAL (Titan Engineering & Automation Limited) we are building world-class automation solutions and intelligent precision equipment in India, proving that Indian-designed and Indian-manufactured machines can meet global benchmarks for quality, reliability, and performance, while supporting deeper localisation and high-value manufacturing capability.
However, procurement decisions today are often distorted by an inverted duty structure. Fully built capital goods can be imported at near-zero duty, while critical inputs such as robots, electronic components, sensors and control systems - required to manufacture the same equipment domestically - attract import duties ranging from 7.5% to 15%. This creates a structural cost disadvantage for Indian capital goods manufacturers and slows down the adoption of 'Made-in-India' automation and equipment.
The upcoming Union Budget presents a timely opportunity to correct this imbalance by rationalising duties on key inputs used in domestic capital goods manufacturing, incentivising procurement of Indian-manufactured equipment, and encouraging deeper localisation of advanced automation technologies. Strengthening India’s capital goods ecosystem will be strategically essential to reducing import dependence in critical sectors and building a resilient, globally competitive manufacturing backbone aligned with the country’s long-term industrial ambitions.”
Pre-Budget Quote: Suhas Donthi, CEO, Emmvee Photovoltaic Power Limited:
“While Budget 2025 strongly supported deployment in especially residential solar, there is an opportunity to further strengthen the structural enablers required for long-term scale. Areas such as manufacturing depth, grid readiness, and access to affordable financing for manufacturing will be increasingly critical and merit greater attention going forward.
As India progresses from around 260 GW today toward the ambitious 500 GW target by 2030, these elements become even more important. At the same time, sustained support for R&D in solar technologies essential for improving efficiency, reducing costs, and building global competitiveness, also need deeper consideration. In essence, a more holistic focus on ecosystem-level investments will be key to supporting the next phase of growth and from this budget, we look forward to such moves.”
Chandragupt Prakash Mangal
Managing Director, Mangalam Worldwide Limited
(Metals & Stainless Steel Industry)
“As the Union Budget 2026 approaches, the industry would welcome continued support to strengthen India’s manufacturing ecosystem through policy stability, infrastructure development, and a level playing field for domestic producers.
For the metals and stainless steel sector, rising steel input costs, raw material price volatility, global trade disruptions, and dumping pressures continue to pose challenges. The forthcoming Budget could consider measures such as appropriate trade safeguards, rationalisation of duties on critical steel inputs, and incentives that encourage capacity expansion and value-added manufacturing.
Improved access to long-term financing for technology upgrades, compliance requirements, and scale efficiencies would further support sustainable sectoral growth.”
Deepak Pahwa
Chairman, Pahwa Group & Managing Director, Bry-Air
(Manufacturing & Industrial Economy)
“The upcoming Budget is expected to provide a decisive push toward achieving India’s ambitious climate goals. Policies should focus on building an industrial economy anchored in green and resilient infrastructure. Promoting sustainable manufacturing, accelerating the adoption of energy-efficient technologies, and driving industrial decarbonisation must form the core of this framework.
We anticipate fiscal incentives to encourage green industry, particularly in areas such as advanced environmental control solutions. Increased investment in climate-resilient infrastructure and emission reduction across production cycles will strengthen the global competitiveness of Indian manufacturing. Prioritising operational efficiency, circular models, and optimal resource utilisation will help industries reduce their carbon footprint and establish India as a global leader in climate-responsible manufacturing.”
Himanshu Arya
Founder, Luxury Cart
(Automobile Industry – Pre-Owned Luxury Segment)
“Ahead of the Budget, the industry is not looking for dramatic changes. What matters most is stability and the absence of surprises. In the pre-owned luxury car segment, clarity around taxation and ownership transfer norms directly impacts everyday transactions.
Buyers in this category are already cautious, given the high value of purchases. Frequent regulatory changes tend to slow decision-making, as customers prefer to wait rather than proceed amid uncertainty. The resale market plays an important role in extending vehicle lifecycles, but it functions best when the rules are consistent. Policy continuity allows businesses to operate with confidence and gives customers the comfort to make informed decisions at their own pace.”
Wilfred Selvaraj
Managing Director, LGT Holidays
(Travel & Tourism)
“The Union Budget 2025–26 took a positive step by allocating ₹2,541 crore for the development of 50 key tourist destinations, strengthening India’s position as a global tourism hub. As we await Budget 2026–27, there is an opportunity to further accelerate inbound tourism, which delivers strong foreign exchange earnings and generates employment across hotels, transport, guides, artisans, and MSMEs.
Enhanced global marketing, improved air connectivity, visa facilitation, and a sharper focus on MICE tourism can significantly boost inbound arrivals and average tourist spend.
On the outbound tourism front, the current tax and regulatory framework continues to challenge organised travel players. High GST on tour packages and a 20% TCS on overseas tours have increased travel costs, impacted cash flows, and discouraged advance bookings, while diverting demand toward unorganised or offshore channels. A balanced approach—strengthening inbound tourism while rationalising GST, moderating TCS rates, and simplifying remittance norms—will support formalisation and long-term growth of India’s travel and tourism ecosystem.”
Dr. Sanjay Salunkhe
Founder, Jaro Education
(Education & Skilling)
“As India prepares for the upcoming Union Budget, we hope to see continued recognition of education as a core driver of long-term economic growth and the Viksit Bharat vision. Building workforce readiness through outcome-led skilling, industry-aligned learning, and practical capabilities will be critical in an increasingly skills-driven job market.
Focused support for digital and online education can expand access to credible higher and executive education for working professionals across regions. Strengthening higher education through globally competitive curricula, research-led learning, and deeper industry collaboration will be essential to developing future-ready talent at scale.
With careers evolving continuously, lifelong learning and upskilling—particularly in AI, digital systems, leadership, and management—are becoming essential. A budget that prioritises inclusion and recognises edtech as a key contributor to access, quality, and learner outcomes will reinforce confidence in India’s human capital.”
Prateek Shukla
Co-Founder & CEO, Masai
“Viksit Bharat will not be built through isolated government training programs. It will be built when companies and educational institutions work together to create talent pipelines.
Budget 2026 should support co-investment in industry–academia partnerships, with tax incentives for jointly designed curricula aligned to real hiring needs. Funding should also be outcome-based, linked to placements, skill validation, and career progression rather than enrolment numbers alone.
Finally, large-scale infrastructure for skill delivery—AI-driven learning, regional language content, and low-bandwidth access—is essential to reach Tier-2 and Tier-3 talent. Incentivising companies to invest in women in tech, freshers, and regional talent will unlock India’s true competitive advantage.”
Aparna Reddy
Executive Director, Aparna Enterprises Ltd
(Infrastructure & Real Estate)
“India’s infrastructure and real estate sectors are at a critical stage, shaping cities, generating employment, and supporting economic growth across tier-2 and tier-3 regions. Despite strong project pipelines, rising input costs, land acquisition delays, approval bottlenecks, and supply chain disruptions continue to impact timelines and affordability.
Union Budget 2026 offers an opportunity to address these challenges by rationalising GST on construction materials, incentivising domestic production, and fast-tracking land acquisition and approvals. Strengthening initiatives such as the Urban Challenge Fund and the SWAMIH fund can revive stalled projects and attract private investment.
Support for public-private partnerships, eco-friendly construction technologies, and improved logistics will ensure faster, sustainable urban development.”
Dipu Bose
Head – Medical Technology, ZEISS India & Neighbouring Markets
(Healthcare & MedTech)
“We are optimistic that Budget 2026 will introduce reforms to address gaps in healthcare access and infrastructure. Expanding PLI 2.0 for medical devices, strengthening R&D incentives, and increasing public health spending beyond 2.5% of GDP will be critical to building an inclusive healthcare ecosystem.
Aligning GST on essential medical devices to the 5% slab, reducing cumulative taxes, and simplifying import-export procedures will improve affordability and access. Incentives such as accelerated depreciation for hospitals investing in advanced diagnostic and ophthalmic equipment can further support healthcare capacity expansion, particularly in Tier II and III regions.”
Ish Mohan Garg
Senior Vice President – APAC, Calderys
“Union Budget 2026 presents a strong opportunity to accelerate India’s green transition through targeted incentives for sustainable industrial manufacturing. Refractory production plays a vital role in supporting steel, cement, aluminium, and infrastructure growth, and must be aligned with decarbonisation goals.
We expect continued support through extended PLI benefits, green capex subsidies, accelerated depreciation for clean technologies, and GST incentives for sustainable materials. A strong infrastructure and green investment push can position India as a global leader in sustainable manufacturing.”
Tanish Sharrma
Co-Founder, BillCut
(Consumer Credit & Financial Wellness)
“As we approach Budget 2026, there is a need to address rising consumer credit stress through stronger awareness, transparent interest structures, and easier access to refinancing and consolidation options.
Policy support such as tax benefits on interest payments and large-scale financial literacy initiatives can help consumers break high-interest debt cycles. Greater emphasis on credit score awareness—how it is calculated and how responsible repayment improves borrowing costs—will empower consumers, improve credit health, and support long-term financial well-being.”
Deepak Aggarwal
Co-Founder, Co-CEO & CFO, Moneyboxx Finance Limited
(NBFCs & MSME Lending)
“With Budget 2026 approaching, rural and semi-urban MSMEs and first-time borrowers should remain central to the financial inclusion agenda. NBFCs play a critical role in delivering formal credit to these segments.
A structured refinance mechanism, regulatory clarity on recovery, simplified compliance, and parity with banks will enable NBFCs to deploy capital more efficiently and sustain grassroots credit growth.”
Dr. Vikas Garg
Chairman, Ebix Group
(Digital Infrastructure & Governance)
“This Budget arrives at a critical moment when India must strengthen the digital foundations of its economy. What is needed are durable frameworks that enable scale while ensuring security, compliance, and consumer trust.
Simpler KYC norms, clearer risk frameworks, incentives for secure digital flows, and continued investment in digital public infrastructure will support sustainable growth. For businesses operating in transaction-heavy, regulated environments, policy stability is fundamental.”
Niranjan Nayak
Managing Director, Delta Electronics India
(Manufacturing & Technology)
“India’s growth is driven by manufacturing, automation, energy systems, and digital infrastructure working together. The upcoming Budget offers an opportunity to reinforce policy clarity, support efficiency-led innovation, and strengthen domestic capabilities.
A long-term policy approach will enable companies to continue investing in sustainable technologies and contribute meaningfully to India’s development ambitions.”
Cheruku Srikanth
CEO & Founder, Digital CFO
(MSME Fintech)
“As we approach Union Budget 2026, the MSME–fintech opportunity hinges on improving compliance-grade financial data and reducing the cost of credit. While existing initiatives are directionally correct, data reliability and frictionless underwriting remain bottlenecks.
Incentivising structured digital bookkeeping and supporting fintech compliance and security will reward credible data with better pricing and faster credit access. Clear incentives and predictable regulatory pathways are essential for fintech to truly deliver value to MSMEs.”
